A ceremony was held on March 26th for Henan Zhongxin New Materials Co. Ltd. to put its 10,000tpy lithium carbonate extraction line into operation. With a handling capacity of 100,000t of wasted lithium batteries per year and annual output values of RMB3 billion (USD436.14 million), the project has changed a phenomenon that "there is no wet-process lithium battery recycling in North China" and could meet demand for wet-process lithium carbonate from over 100 producers adopting dry-process. The project aims to create the largest lithium battery circulation industry base in Central China.